Compensation for interest for economic operators engaged in alternative activities
What are the benefits?
Assistance from the state budget is provided in order to create more favourable conditions for economic operators to use services of financial institutions, by compensating for part of the interest paid on loans and financial lease (leasing) services for financing of investments, guaranteed by INVEGA.
Who can apply?
This assistance is intended for economic operators engaged in alternative agricultural activities (i. e. activities related to the food sector, forestry and any other activity that is not classified as an agricultural activity) in rural areas, provided that they have registered an agricultural holding in their own name.
Criteria for an economic operator‘s eligibility for the aid:
- Meets the criteria for a small or medium enterprise;
- Does not participate in certain measures under the Rural Development Plan for 2004–2006 or the National Rural Development Programme for 2007–2013;
- Has not received other aid as defined in p. 7.4. of the Rules.
The application for compensation of part of interest is submitted together with the application for guarantee (as an annex to the Guarantee Application Form).
Order of the Minister of Agriculture of the Republic of Lithuania No 3D-877 of 20 November 2014 ‘On approval of the Rules for the Instrument for Compensation for Interest Paid on Loans and Leasing Services for Investment Financing Purposes Administered by Žemės ūkio paskolų garantijų fondas UAB“.